JSPL to invest Rs 1 lakh cr by 2020 to raise capacity

Jindal Steel and Power (JSPL) plans to invest R1 lakh crore to expand its capacity multi-fold to 20 million tonnes per annum in the next eight years, company chairman Naveen Jindal has said

"We are in the process of expanding the capacity of Raigarh plant to 7 million tonnes per year (MTPA)," he told PTI. "Then new capacities at Angul in Odisha and Jharkhand will also come up. Overall, we will have 20 MTPA production capacity by 2020."

JSPL has a 3 MTPA capacity at Raigarh in Chhattisgarh and is planning to commission the first phase of its 6 MTPA plant at Angul in Odisha by 2013-14. Besides, the company is also constructing a greenfield plant of similar capacity in Jharkhand.

Stating that the company does not have any problem in financing its projects, Jindal said, “Expansions and construction on some of them (new capacities) are already on and investments are being made. For 20 MTPA, it will be R1 lakh crore investment.”

Earlier, the firm had announced to invest R45,000 crore in its expansion by 2015-16, through a mix of debt and internal resources.